Note Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Note, written in plain English, along with examples of how it is used.

What is Note?

n.A written document that is a proof that one person or entity owes money to another and the person holding the note gets the money as mentioned in the note on demand or on the specified time as mentioned in the note.It contains other details like rate of interest,fine for late payments,legal expenses if any,mode of payment -lumpsum or in installments.